Native Realty is proud to present this rare ground floor retail & restaurant opportunity at AKA Hotel, a brand new four star hotel within the heart of Downtown West Palm Beach. With a walk score of 94, the site is surrounded by some of the city’s most popular nightlife destinations, as well as Clematis Street, the historical heart of Downtown West Palm Beach. The benefits from close proximity to Rosemary Square, City Place, and the Brightline high-speed rail station connecting Palm Beach with Broward and Dade county.
AKA Hotel is slated for opening July 1st 2022 and consists of eight-stories and 215 hotel rooms. The property features on-site parking for the Retail & Restaurant spaces.
The Downtown Core contains a wide variety of property types including many older commercial structures with a number of new development projects both recently completed and underway. The Alexander, Broadstone City Center, and Park Line Apartments are 3 brand new apartment/condominium projects that were recently completed within a few blocks of the subject. The Bristol, One West Palm, 360 Rosemary, and Flagler Banyan Square are currently under construction and will bring 650 luxury apartment/condominium units, over 700,000 square feet of office/retail space, and 2 additional hotels. This area has been experiencing high demand with an increase in property values, occupancy levels, and rent levels in the area have increased over the past several years. This is a unique opportunity to secure new construction in the heart of Downtown with a built in customer base from the hotel rooms on-site.
Address: 695 S Olive Avenue, Palm Beach, Florida 33401
Format: NNN (estimated $12.00/ft 2022)
Size: 1,756-6,332 sq. feet
Suite 1: 2,209 sq. feet + 1,197 sq. feet outdoor patio
Suite 2: 1,756 sq. feet
Suite 3: 2,367 sq. feet
Parking: On-Site Retail & Restaurant Parking
Zoning: Central Business District